Tuesday, June 10, 2014

Wednesday June 11 Housing and Economic stories


China bans use of Microsoft's Windows 8 on government computers - (www.reuters.com)  China has banned government use of Windows 8, Microsoft Corp's latest operating system, a blow to a U.S. technology company that has long struggled with sales in the country. The Central Government Procurement Center issued the ban on installing Windows 8 on Chinese government computers as part of a notice on the use of energy-saving products, posted on its website last week. The official Xinhua news agency said the ban was to ensure computer security after Microsoft ended support for its Windows XP operating system, which was widely used in China. "We were surprised to learn about the reference to Windows 8 in this notice," the company said in a statement. "Microsoft has been working proactively with the Central Government Procurement Center and other government agencies through the evaluation process to ensure that our products and services meet all government procurement requirements." "We have been and will continue to provide Windows 7 to government customers. At the same time we are working on the Window 8 evaluation with relevant government agencies," Microsoft said.

French rail company orders 2,000 trains too wide for platforms – (www.reuters.com) Ah, but they will all still get their month off in August and receive their bonus checks!! ;-)
France's national rail company SNCF said on Tuesday it had ordered 2,000 trains for an expanded regional network that are too wide for many station platforms, entailing costly repairs. A spokesman for the RFF national rail operator confirmed the error, first reported by satirical weekly Canard Enchaine in its Wednesday edition. "We discovered the problem a bit late, we recognise that and we accept responsibility on that score," Christophe Piednoel told France Info radio. Construction work has already begun to reconfigure station platforms to give the new trains room to pass through, but hundreds more remain to be fixed, he added. The mix-up arose when the RFF transmitted faulty dimensions for its train platforms to the SNCF, which was in charge of ordering trains as part of a broad modernisation effort, the Canard Enchaine reported.

China and Russia ink $400 billion gas deal  - (www.usatoday.com) China and Russia signed off on a huge gas deal worth as much as $400 billion Wednesday that heralds a pivot east for Russian business amid ongoing tensions with the West over Ukraine, though few details of the deal were made public. The 30-year gas-export contract, seen as a move by Russian President Vladimir Putin to aggressively shift the country's commercial interests east amid mounting sanctions from the United States and Europe, was signed as the Russian leader has enjoyed a warm welcome in China, where the two countries have inked a raft of agreements during his ongoing, two-day visit. The price China is paying for Russia's gas was not disclosed but the value of the agreement is thought to be somewhere near $400 billion. The deal, which will see Gazprom gas flow to China from a pipeline in Siberia, was confirmed by China's state-owned China National Petroleum Corporation.

German Unease With ECB Simmers as Anti-Euro Party Gains - (www.bloomberg.com)  Lawmakers from Chancellor Angela Merkel’s party are criticizing European Central Bank policies as a German anti-euro party gains support before elections across Europe this week. Misgivings by Finance Minister Wolfgang Schaeuble about the ECB’s threat of unlimited bond-buying and Merkel’s warning of “deceptive calm” in financial markets are the latest signs that German policy makers and economists don’t want to discount the lingering risk to taxpayers from the debt crisis. As polls suggest the anti-euro Alternative for Germanymay win as much as 7 percent of the German vote for the European Parliament on May 25, members of Merkel’s Christian Democratic Union in the Bundestag, or lower house, questioned the underpinnings of ECB President Mario Draghi’s pledge in July 2012 to do “whatever it takes” to save the euro.

'We had no idea' about faulty switch: Car czar – (www.cnbc.com) Five years after the Obama administration forced the country's largest automaker into a government-backed bankruptcy, the man who led the charge said the auto task force had no inkling of the ignition switch defect that caused millions of General Motors vehicles to be recalled. "We had no idea," said Steve Rattner, who served as the lead adviser on the Presidential Task Force on the Auto Industry. "As far as I know, none of the management people we were dealing with knew about it, so we didn't know about it, nor could we have." Rattner's comments on CNBC's "Squawk Box" come as critics of GM are questioning how many of the automaker's executives knew about the issues involving faulty ignition switches.





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